Correcting Lower, Below 1.4445 Targets 1.4380

USD/CAD is correcting lower, with a five-wave Elliott Wave structure likely completed at 1.4485. Speculation surrounding Trump’s inauguration and his softer approach to tariffs, hinted at in his recent call with Chinese President Xi, could drive US dollar selling.

Support Levels:
1.4445
1.4380

Resistance Levels:
1.4485
1.4560

Outlook:
Below 1.4445, the pair is likely to test 1.4380 as part of the correction. A break above 1.4485 invalidates this bearish view, shifting focus to a potential rally toward 1.4560.

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